Bitcoin has been racing from record to record in recent days, with a new ATH above $93,000. However, Bitcoin's journey to $90,000 did not last long.
BTC price has dropped below $90,000, while rally expectations still remain.
At this point, VanEck Digital Assets Research Head Matthew Sigel said that Bitcoin's rise could continue in 2025.
Bitcoin Will Be 180 Thousand Dollars in 2025!
Appearing on CNBC's Squawk Box program, Matthew Siegel stated that the rise in Bitcoin has just begun and claimed that the Bitcoin price could double in this bullish cycle and reach $180,000.
Siegel said that the Bitcoin rise after Trump's victory was similar to the rise that Democrat Joe Biden experienced after he was elected president in the 2020 elections, and continued his words as follows:
“As we expected, Bitcoin saw this high volatility pump after the election.
We are currently in blue sky territory, there is no technical resistance and we think we are likely to reach new all-time highs in the next two quarters.
Because the same patterns played out in Bitcoin four years ago. Between the election and the end of the year in 2020, Bitcoin doubled. Then there were about six 10% corrections.
So it's not going to be a straight line now, but we're up 30% so far and a number of indicators that we follow are still green for this uptrend to continue.”
Finally, the VanEck official stated that their target price for this cycle is $180,000 and said that this target will be realized next year, in 2025.
“If this prediction comes true, it would represent a 1,000% trough-to-peak rally in this cycle. This is still by far the smallest Bitcoin cycle,” Siegel said.
*This is not investment advice.